Financial help for liquidity support for SME housebuilders

 Financial help for liquidity support for SME housebuilders

Scotland: Financial help for liquidity support for SME housebuilders

An emergency loan fund has been announced which will help housebuilders with liquidity.

Who can apply?

SME housebuilders who can demonstrate that:

  • They are an existing business in Scotland which has been directly affected by COVID-19
  • Their turnover is less than £45 million and they are building five or more homes per annum
  • Their business was financially viable before COVID-19
  • Funding cannot be secured from existing lenders or their own resources to meet liquidity needs
  • The business has been unable to secure sufficient funding from UK Government or other Scottish Government COVID-19 schemes

How much funding is available?

The fund will offer short-term loan funding to applicants to cover 3 months of liquidity support to their business. Key features include:

  • Loans available between £50,000 to £1 million
  • Fixed interest rates of 2% per annum
  • Flexible repayment terms, with the option for capital and Interest payments to be offset for 12 months.  The majority of loans are expected to be repaid within 24 months
  • Security on loans will be assessed on a case by case basis
  • Applicants will be asked to confirm why existing support routes are not appropriate or sufficient.

How do I apply?

  • The Fund will be open to applications from 14:00 on 18 May 2020.
  • Applicants will be asked to complete a form and provide financial information to support their application.
  • ad+ can help you to prepare the information needed to support your application.


What is your next step?

If you wish to discuss further, simply get in touch.

ad+ is here to serve and support our clients during this challenging time.

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